QMS inks $350m deals at ME marine expo

Abu Dhabi, October 2, 2013

Quality Marine Services (QMS), a subsidiary of Abu Dhabi-based Zakher Marine International, ended the Middle East Workboats & Offshore Marine show in style signing deals worth Dh1.28 billion ($350 million) on the final day on Tuesday.

A leading regional forum for owners, operators, industry professionals and suppliers, the Middle East Workboats & Offshore Marine kicked off on September 30 at the Abu Dhabi National Exhibition Centre.

The deals include the construction of four platform supply vessels (PSV) and two accommodation jack-ups at Chinese yards, said a statement from the organisers Seatrade.

Contracts for a further two jack-up accommodation units are expected to be signed within 24 hours with an Abu Dhabi-based shipyard – worth more than $150 million.

The contracts are speculative builds with designs tailored for specific markets in the Middle East, Far East and Africa, and are due for delivery in 2015, it stated.

The order adds to QMS' existing orderbook of six DP2 OSVs under construction at various yards, including the Sea Conquest, a 4,000 hp DP2, FiFi1 OSV due for delivery next week.

The announcements conclude a record number of deals signed during the event, which saw a gathering of owners, operators, industry professionals and suppliers across three days of high-level debates, networking opportunities and business discussions, said the event organisers.-TradeArabia News Service